Women’s wealth improving but gap remains
The economic position of women is improving, with wage growth, more women entering full-time work and more women occupying top company board positions seeing the Financy Women’s Index (FWX) gain 1.4 points from June to September.
The Index still fell 37.5 per cent short of its progress target of 173.3 points for September, however. The target was an aspirational guide on economic equality, tracking how it could be achieved within a decade if women’s progress is maintained and uninterrupted.
“We need to continue to discuss important issues like inclusion and gender balance around board room tables and management, however we also need to increase the activity around these matters,” OneVue managing director, Connie McKeage, said.
“We need sustainable change and Financy’s Women’s Index is one of the levers we can rely on to provide facts to support our calls to action. Every step forward we take as organisations that care, no matter how small those steps may seem at the time, can contribute to creating a better, more balanced future.”
In other positive news for women, the superannuation gap between genders could be closing. AustralianSuper reported the gap between retirement savings for men and women was at 28 per cent at the end of the 2018 financial year, down from 30 per cent in 2017.
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